House hunting? Good to be aware of the main changes and opportunities in 2024.
We list the most important changes for you.
Transfer tax 0%
The transfer tax exemption will be increased from € 440.000 to € 510.000.
The conditions remain the same and you must be under 35 years old to benefit from this ruling.
Boundary of National mortgage guarantee (NHG)
This rises from € 405.000 to € 435.000.
You can find out more about the benefits of NHG here.
The better the energy label the more you can loan
The energy label will play a role in 2024 in how much you can get in a maximum mortgage.
If you purchase a house with a lower energy label, you can borrow less comparing with a very energy-efficient house.
Homes with energy label E, F or G are the standard, meaning you cannot get an extra loan for these. For better energy ratings, you get a raise on your maximum mortgage.
This increase can be specified as follows:
– € 5.000 for energy label D or C
– € 10.000 for energy label B or A
– € 20.000 for energy label A+ A++
– € 30.000 for energy label A+++
– € 40.000 for energy label A++++
– € 50.000 for energy label A++++ with guarantee
The worse the energy label is the more you receive to make it more sustainable
The worse the energy label is the more you receive to make it more sustainable.
The amounts you can get:
– € 20,000 for energy label G, F and E
– € 15,000 for energy label D or C
– € 10,000 for energy label B or A
Singles can loan more
For singles, the changes in 2024 are a bit more positive. They will be able to borrow up to 16.000 euros more than before.
They get more room because they have proportionally lower fixed expenses than when they live with someone, is the reasoning of the Nibud, among others.
Conclusion
There are no major changes that will change the housing market with the new measures taken in 2024.
However, due to the increase in the transfer tax limit as well as the National Mortgage Guarantee limit, there will be a driving effect on prices of mid-range housing.
By incentive’s with additional mortgage funds in 2024, homes with better energy labels are likely to generate higher selling prices.
To help single people , who find it difficult to find a home they can obtain with a mortgage, a slightly higher mortgage is possible.
This will not help the single person much when the house prices start rising in 2024.
A major factor on this expected rise in house prices will be interest rates on mortgages. Should these decrease and come below 4% then this could potentially lead to more overbidding on homes. Currently, you see this happening a lot despite interest rates being between 4%-5%.
We therefore expect an increase of at least 5% for 2024, which could rise to 10% if interest rates fall below 4%.